Stocks related to agriculture saw major gains on Saturday, with some surging up to 13%, following the announcement of the PM Dhan Dhanya Krishi Yojana by Finance Minister Nirmala Sitharaman. The scheme, aimed at improving yields in 100 districts with low productivity, modern crop intensity, and below-average credit parameters, boosted investor sentiment.
Kaveri Seed Co's shares surged by 13.49% to Rs 1,020.70, while Mangalam Seeds rose by 7.09% to Rs 222. Nath Bio-Genes saw a 5.77% jump to Rs 178.60, Dhanuka Agritech climbed 2.61% to Rs 1,479.35, and UPL gained 0.94% to Rs 609 on the BSE.
Additionally, Paradeep Phosphates shares increased 2.75 per cent to Rs 115.90, Rashtriya Chemicals & Fertilisers appreciated 0.95 per cent to Rs 164.75, PI Industries climbed 0.85 per cent to Rs 3,512.05, Bayer Crop Science rose 0.67 per cent to Rs 5,148.25 and Mangalore Chemicals & Fertilizers went up 0.45 per cent to Rs 168.45 apiece on the bourse.
Coromandel International's stock rose by 0.11% to Rs 1,812 per share, while Chambal Fertilisers & Chemicals saw a dip of 0.59%, falling to Rs 501.05 per share. Tata Chemicals also slipped by 0.30%, trading at Rs 983.85 on the BSE. Meanwhile, the 30-share BSE Sensex gained 385.19 points, or 0.50%, reaching 77,885.76 during mid-session trade.
On Saturday, Finance Minister Nirmala Sitharaman announced the PM Dhan Dhanya Krishi Yojana, covering 100 districts with low yields, modern crop intensity, and below-average credit parameters. In her record eighth consecutive budget, she highlighted that the scheme would benefit 1.7 crore farmers.